Community Forums

ShelbyM · 03-23-2020, 04:11 PM

Will they have access the so called "slush fund?" Looks like airlines, hotels, cruise ships and for some reason oil are shoo ins. Is the RV industry similarly connected? I think the RV companies are US owned and pay taxes, unlike the cruise ships. Hopefully the workers will get unemployment.

doc · 03-23-2020, 04:13 PM

??? What 'slush fund' is that?

powderman · 03-23-2020, 04:18 PM

Quote:

Originally Posted by doc

??? What 'slush fund' is that?

If you have to ask,you aren't paying attention to the news.

McRod · 03-23-2020, 04:20 PM

My preference is to only help Joe American. He/She will spend their dollars in companies and the free-will market winners will survive.

We have already, in this lifetime, done several corporate bailouts and we know how they turned out. Besides, companies have had a decade of prosperity to build cash reserves to prepare for the inevitable market crash.

Have you priced a pickup truck recently? Bought a cup of coffee? Read any complaints on any RV website about the quality of NEW production RVs and their cost?
Many industries have been raking Joe American over the coals this whole time.

Now it's time for a handout, so their boards don't toss them on the street for not being prepared. I vote to veto that. Take care of the people and everything else will be fine.

ShelbyM · 03-23-2020, 04:20 PM

The stimulus bill Congress is working on includes 500 Billion for "distressed industries relief." In it's current form it has come to be called the slush fund because it is subject to little transparency or oversight. Apparently recipients may not even be identified for 6 months. Somehow I bet you already knew this....

ShelbyM · 03-23-2020, 04:25 PM

Quote:

Originally Posted by McRod

My preference is to only help Joe American. He/She will spend their dollars in companies and the free-will market winners will survive.

We have already, in this lifetime, done several corporate bailouts and we know how they turned out. Besides, companies have had a decade of prosperity to build cash reserves to prepare for the inevitable market crash.

Have you priced a pickup truck recently? Bought a cup of coffee? Read any complaints on any RV website about the quality of NEW production RVs and their cost?
Many industries have been raking Joe American over the coals this whole time.

Now it's time for a handout, so their boards don't toss them on the street.

This is my preference as well. I didn't care for the auto bailout at the time but at least the government got stock in exchange and ended up actually making some money. Hopefully this current negotiation will continue until we aren't suckers holding the bag for shareholders.

hohenwald48 · 03-24-2020, 05:48 PM

Normally I would agree with the posts on here. However, this is a little different.

Businesses aren't in a pickle because of poor management or bad business decisions. Business are in a pickle because the government (local, state or federal) has forced them to stop selling their product or service and forbidden their customers from doing business with them. The government has done this to prevent the spread of disease and for the good of the public in general.

Additionally, the government has saddled these businesses with continued tax liabilities and ongoing employee expenses for employees that the government is preventing from going to work and producing.

The last clause of the 5th amendment to the US Constitution states "nor shall private property be taken for public use, without just compensation."

In this case, government has taken private property (their productivity) from the business for the good of the public and should provide just compensation. No different than imminent domain real estate confiscation.

Any necessary governmental oversight is another conversation. It's all in the hands of that well oiled and efficient machine we call congress.

ShelbyM · 03-24-2020, 06:05 PM

I would say there is evidence of poor or misguided management when highly profitable businesses can't survive a couple of months hiatus w/o going under. The airlines were whining before any restrictions were placed, just because of reduced demand. Restaurants would have to change, even w/o government orders because there aren't enough people stupid enough to continue going out. Obviously there are some but not enough to keep them going. Since the orders have been given, the state now has some responsibility to help them through this. What we as taxpayers don't want is $500 Billion gone who knows where without accountability. Fortunately this has been recognized and it looks like that loophole may be at least partially closed. I'd still prefer the $ go to workers rather than stockholders, but they didn't ask me

twinboat · 03-24-2020, 06:05 PM

Some don't think the cruise industry, being off shore companies, should get any help.

Think about when you take a cruise, whats your first interaction ?

Taxi, parking garage attendant, car service from airport ?

How about at the port, who handles your bags ? Who loads the food on the ship ?

Once the ship is fueled, loaded and after the dock hands drop the lines, there are even US based companies supplying and running the harbor boats, with pilots, to and from the ship.

There are a lot of American folks impacted by the cruise ships stopping.

kpecks · 03-24-2020, 06:08 PM

I’m so happy for the Newmar family right now I can’t even stand it!!

hohenwald48 · 03-24-2020, 06:10 PM

Quote:

Originally Posted by ShelbyM

I would say there is evidence of poor or misguided management when highly profitable businesses can't survive a couple of months hiatus w/o going under.

There are a good many citizens who will go under because they miss one or two paychecks. I assume you would deny them assistance based on the fact they exhibit "evidence of poor or misguided management" in their personal finances too?

ShelbyM · 03-24-2020, 06:16 PM

You missed the "highly profitable" part. Nothing in common with the finances of working folks. In fact, my personal preference would be to give most of the $ directly to workers who have been impacted.

jcussen · 03-24-2020, 08:53 PM

I am all for helping out the workers that cannot work because of the virus, but if the widget company that has to shut down because of no workers, cannot pay its bills, and goes into bankruptcy, and folds, because of no government support, there will be no jobs for the workers when the virus problem is solved. This means more payments to the unemployed workers because there is no widget factory to work at. Really have to look at the big picture on this one.

TXTiger · 03-24-2020, 09:38 PM

Quote:

Originally Posted by jcussen

I am all for helping out the workers that cannot work because of the virus, but if the widget company that has to shut down because of no workers, cannot pay its bills, and goes into bankruptcy, and folds, because of no government support, there will be no jobs for the workers when the virus problem is solved. This means more payments to the unemployed workers because there is no widget factory to work at. Really have to look at the big picture on this one.

Yes, it’s the widget companies that employ the workers so we should help them out, but the funds need to go to payroll and not bonus for the management or dividends to the shareholders. We need to put rules on how the funding is used.